All Forum Posts by: Reggie Maggard

@Reggie Maggard there is a wide variety out there. I only use handymen that are insured that I can send a 1099 to. You will find cheap handymen that are not insured and many don't even claim their income on taxes, so don't even understand what a 1099 is. I just prefer to keep it all legit, but it costs a few extra bucks. 

Many investors will just go on Craigslist and hire the cheapest person they can find. This can be a huge mistake. I have seen handymen do significant damage. I had one person how got paint all over my woodwork. My parents hired a guy who got half way done with a job and told them, "it is too hard, I can't finish this".

Best situation is get referrals. Realtors are a good source for handyman referrals or other investors. 

@Reggie Maggard Not sure I've ever heard of an "intro packet" for multifamily. Can you elaborate a little? 

 This would be an ultra high risk activity. As someone with 1,000's of tenants & 60+ employees I can tell you that it'd be my dream to eliminate the cost of having a person there to show the rentals but the risk would be far too great. People are crafty, not only would they do the things you mentioned above they'd also go around & unlock all of the windows for easy access later on. When we train our staff we need to make sure they know they have to check every door & window before they leave as people will try & case the joint while staff is there in the home. Usually working in teams. One person distracts the leasing agent while the other cases the joint & sets it up for the break in. I can only imagine how vulnerable you'd be giving them freedom to roam alone. 

First thing you do is use the most basic appliances you can find. The more bells and whistles the more likely the appliance will fail. Basic is more than adequate in anything but A class properties. Stoves, avoid glass top and buy ones with the least amount of electronics. Elements are cheep and easy to replace, electronics will usually not be worth fixing. Fridges stay away from ice makers and water dispensers. Never use garbage disposals, nothing but trouble. If you buy a property with one remove it before tenants move in. Same goes for dish washers if possible. Remove ceiling fans and replace with lights. Anything mechanical you can avoid is a plus.

Buy used appliances a couple of years old at 1/3 the cost of new and have spares to swap out when there is a problem. Do all simple repairs yourself at your leisure.